This move gives just the slightest appearance of legitimacy to BitCoin. Interesting move on the part of Overstock.com. But perhaps this is all just PR and signifies nothing. Personally, I won’t be trading in my ready cash for BitCoin anytime soon.

http://www.johncblandii.com John C. Bland II

I just don’t get it.

Gandhi

I just don’t trust it

http://www.johncblandii.com John C. Bland II

Agreed.

http://www.laugh-eat.com/ kyron

do you get Bill Me Later? i dont get why people would pay with that, but people do.

http://www.johncblandii.com John C. Bland II

Yes, I do.

BML = get it now but pay later. That’s basically layaway, in a sense.

The White Tiger

Yeah, Bill Me Later is interest-free financing with a punishing APR should you not finish paying it off in time. I use it regularly and complete the repayments well ahead of time. If you’re responsible, financing makes more sense than using a regular credit card.

When you’re talking about Bitcoin, you’re talking about the highly subjective concept of what makes currency of any value. It’s difficult to explain and even more difficult to justify.

I’m told Overstock’s CEO is an outspoken libertarian, so this kind of thing might not be all that surprising to people who know about him.

Moeskido

Horace Dediu devoted a Critical Path podcast to BitCoin recently. I’d be more impressed with it as a money-transfer system for people who want to avoid international banks… if it weren’t for how many BitCoin cheerleaders are defeating that purpose by hoarding it as an investment.

Odi Kosmatos

Dave, could you please get it right and not spell it “BitCoin”, you look… I can’t bear to say it. You don’t write “MicroSoft”, “ChromeBook”, “iTouch” or similar things, so do a bit of homework next time. The moron at the NYT that made that mistake a day or two ago, and then said it was a joke, well, don’t be that guy. Sincerely, a fan.